Be in the know. 15 key reads for Friday…

  1. What Bank Turmoil? Insiders Are Scooping Up Bank Stocks. (barrons)
  2. Intel CEO Pat Gelsinger Buys Up Stock After Earnings (barrons)
  3. Apple’s Earnings Were All About the iPhone (barrons)
  4. Why Powell Thinks the Federal Reserve Can Tame Inflation Without Recession (barrons)
  5. Block’s Revenue Grew 26%, Driven by Cash App (barrons)
  6. Why a tumbling 2-year Treasury yield may signal Fed ‘policy mistake’ (marketwatch)
  7. ‘Taking out the hike that just happened’: Traders ignore Powell and begin pricing in a Fed rate cut as soon as June (marketwatch)
  8. Royal Caribbean Stock Surges. Consumers Are Still Spending on Cruises. (barrons)
  9. ChatGPT Will Disrupt Many Jobs. These Are the Most at Risk. (barrons)
  10. U.S. Trade With World Rose in March on Energy, Auto Shipments (wsj)
  11. Billionaire Stephen Ross Bets on New Offices, Sees Havoc for Old Towers (bloomberg)
  12. Consumers in China are paying to dine at nicer restaurants (cnbc)
  13. Chinese insurance stocks back in favour after best first-quarter result in five years (scmp)
  14. Ping An, Baidu, Tencent push Hong Kong stocks to best week since March on US rate-cut bets amid bank crisis (scmp)
  15. The market is wrong and this will be the last rate hike, says Fmr. Fed Vice Chair Quarles (cnbc)

Be in the know. 20 key reads for Thursday…

  1. Watch the “Deadpool” (hedgefundtips)
  2. Billionaire investor Bill Ackman warns more banks will fail unless the FDIC insures all deposits (businessinsider)
  3. Consumer spending by China Alipay, WeChat Pay users surges over holiday (scmp)
  4. Retail investors have ‘rage sold’ out of the stock market after driving the pandemic-era trading boom just 2 years ago (businessinsider)
  5. Powell Says Banking System ‘Sound and Resilient.’ Try Telling That to PacWest Investors. (barrons)
  6. Here’s when history says the post-Fed pause rally should start — and the two unlikely sectors to benefit (marketwatch)
  7. ‘We are running out of time to fix this problem’: Bill Ackman’s latest warning on regional banks (marketwatch)
  8. ‘Deposits are going to keep drifting out,’ says DoubleLine’s Gundlach, warning of echoes of S&L crisis at banks (marketwatch)
  9. Fed pause baked in after “dovish” hike (streetinsider)
  10. PacWest Drops Further. Other Regionals Follow. (barrons)
  11. One Sign Inflation Will Wane: It’s Getting Easier to Find Truck Drivers (barrons)
  12. Apple is about to rain billions more on investors as cash position shrinks (marketwatch)
  13. Moderna Posts Earnings Beat. (barrrons)
  14. Biotech ImmunoGen Stock Jumps 140% After Positive Drug Trial Data (barrons)
  15. ‘Generous but expensive’: The costs of helping banks alleviate deposit stress don’t come cheap (marketwatch)
  16. Workers Have High Hopes for Pay Raises, Companies Not So Much (wsj)
  17. China’s Tightening Grip on Foreign Firms Risks Hitting Investment (wsj)
  18. Pushback Against Powell’s Prognosis Comes Almost Immediately (bloomberg)
  19. PacWest Tries to Calm Jittery Markets After 60% Stock Plunge (bloomberg)
  20. Mohamed El-Erian slams Powell’s suggestion that the bank turmoil is over – says it could be added to a list of Fed communications that eroded its credibility. (businessinsider)
  21. First Horizon Shares Crash After TD Bank Deal “Terminated” (zerohedge)
  22. Alipay and WeChat Pay data shows China consumer spending over May holidays exceeded pre-Covid levels (scmp)